If you missed it last week, I broke down this dashboard and how I actually use it in my process during my weekly show.
Week over week, breadth continued to expand, especially across the offensive parts of the market. Discretionary, Financials, and Industrials saw meaningful gains across short- and intermediate-term moving averages, signaling improving participation beneath the surface.
The notable exception was Technology, where short-term breadth rolled over despite longer-term structure remaining intact. Defensives were mixed, with Staples and Real Estate improving while Energy and Utilities lagged, reinforcing that this remains a selective risk-on environment rather than a broad defensive rotation.
The Stalk List
$RSP - S&P 500 Equal Weight ETF
RSP is breaking out to new highs. That means the average stock, where every name gets an equal vote, is participating.
If the average stock is breaking out and that still makes you nervous, I’m not sure what confirmation you’re waiting on.
$EQWL - S&P 100 Equal Weight
EQWL represents the biggest stocks on the planet, roughly 75 percent of the S&P 500 by weight, and it’s breaking out to all-time highs.
This is leadership acting like leadership. If you’re not buying breakouts here, an honest question, when exactly are you?
$XLF - Financials
Financials are breaking out to new highs after months of chopping around.
Large banks, small banks, card names, they’re all acting well.
When Financials lead, it usually means the market is leaning into adding risk, not bracing for impact.
$XLI - Industrials
Industrials are breaking out to all-time highs after a long consolidation.
This isn’t some speculative junk move, it’s steady, persistent strength.
My Two Cents
I’ll keep this simple.
The market is going up, participation is broad, and breakouts are being rewarded.
You can argue with it, overthink it, or wait for a headline to scare you out, or you can listen to price and join the move.
